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screwed up, lost half of account in one week


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screwed up, lost half of account in one week

  #1 (permalink)
 tripanasoma 
Munchen
 
Experience: Intermediate
Platform: Metastock
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I lost half of my account in a week that I collected in ten years time in futures trading. I feel ashamed and can not even look at my wife's face. Was fun to be with you here. Could not make it.

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  #3 (permalink)
 choke35 
Germany
 
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Give yourself a rest to get some inner distance to trading and
to the factors that caused you "being on tilt".

Life is not about how often you stumble and fall,
but about how often you stand up.

+ You still have half of your account.

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  #4 (permalink)
 
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 cory 
virginia
 
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tripanasoma View Post
I lost half of my account in a week that I collected in ten years time in futures trading. I feel ashamed and can not even look at my wife's face. Was fun to be with you here. Could not make it.

Is that on your mechanical system? make sure the parms are still valid for today environment.

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  #5 (permalink)
 tripanasoma 
Munchen
 
Experience: Intermediate
Platform: Metastock
Trading: Futures
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cory View Post
Is that on your mechanical system? make sure the parms are still valid for today environment.

No i did not start it yet. After 2 big losses I got I decided to make a mechanical one. I am discretionary trader. But after all these mess thinking to return stock trading. Much more safe.

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  #6 (permalink)
 Underexposed 
Calgary Alberta/Canada
 
Posts: 934 since Feb 2014


tripanasoma View Post
I lost half of my account in a week that I collected in ten years time in futures trading. I feel ashamed and can not even look at my wife's face. Was fun to be with you here. Could not make it.

you cannot make major decisions right now... with half your account still available you still have time for recovery. But you are not thinking good right now. Stocks right now are definitely not a safer alternative...Until Oil settles down stocks you think are good fall out from under you at least that is happening to me right now.

Let the markets settle down... let you settle down.... when you are ready then study why you went wrong .... make a few pretend trades and as you gain confidence re-enter.

chill out for now though is my advice....good luck

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  #7 (permalink)
 
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 JonnyBoy 
Montreal, Quebec
 
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Underexposed View Post
you cannot make major decisions right now... with half your account still available you still have time for recovery. But you are not thinking good right now. Stocks right now are definitely not a safer alternative...Until Oil settles down stocks you think are good fall out from under you at least that is happening to me right now.

Let the markets settle down... let you settle down.... when you are ready then study why you went wrong .... make a few pretend trades and as you gain confidence re-enter.

chill out for now though is my advice....good luck

I agree. You have half your account still available so recovery is totally possible. You need to find a quiet place, level out, dust yourself off and ease yourself back in.

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- Trade what you see. Invest in what you believe -
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  #8 (permalink)
 
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 TickedOff 
Sydney, NSW, Australia
 
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To have been profitably trading for 10 years is a great achievement in itself. I agree with what the other guys are saying... take some time out and let your mind clear, then see what led to the large loss and take steps to preventing it from happening again. Its not over. If you get back into trading I would recommend having a daily loss limit and sticking to it.

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  #9 (permalink)
 
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 Big Mike 
Manta, Ecuador
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Have you been paying yourself over the last ten years from your trading account? If yes then the loss is much less of an issue. If no then trading was just a hobby, and hobbies can be expensive.

Your wife will understand assuming you provide for your family responsibly.

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  #10 (permalink)
 tripanasoma 
Munchen
 
Experience: Intermediate
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Trading: Futures
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Big Mike View Post
Have you been paying yourself over the last ten years from your trading account? If yes then the loss is much less of an issue. If no then trading was just a hobby, and hobbies can be expensive.

Your wife will understand assuming you provide for your family responsibly.

Sent from my phone


I withdrew when needed but my %99 of investment was in that account.

I will write how I lost it but I can not post links it seems. Will tell you. My strategy is like this: I opt for tight stop and a few times of the stop loss amount for profit target. I use high leverage for this purpose. Daytrading mostly using pivot levels. Very rare I carry to other day. It was a really quiet day. I entered my position and I was thinking I already put my stop also but I was wrong. I forgot or some other things boggling my mind at that time. Market got a huge averse move after my position and next day dropped more. When I checked my account stop loss wasnt there. The other one was revenge trade. Not hard to guess how it ended.

I will not mention her about this. I do not want her to be worried.

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Last Updated on January 15, 2015


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